Short-term rental investing in New York happens almost entirely outside New York City. The Catskills, the Hudson Valley, the Adirondacks, the Finger Lakes and Saratoga Springs are where whole-home vacation rentals still work, and each comes with its own town rules and a property tax bill that deserves careful math.
In short: LendingStreet is our top pick for New York short-term rental financing. On some programs we qualify the property on projected short-term rental revenue instead of a long-term lease, which helps a Catskills cabin or Finger Lakes cottage that earns far more by the night than by the year. You qualify on the property with no W-2s or tax returns, LLC borrowers are standard, 30-year terms are available, and loans start at $150,000 with up to 80% LTV on a purchase. Get a quote with the form below.
Our short-term rental loans use the same DSCR foundation as our rental loans: a 620 minimum credit score, a 1.0x standard minimum DSCR, up to 80% LTV on a purchase and up to 75% LTV on a cash-out refinance. Sub-1.0 DSCR programs exist, which can help in high-tax towns. On some programs the income is projected nightly revenue rather than a 12-month lease.
This works well for investors buying a first upstate cabin, owners refinancing a Hudson Valley home that already books well, and buyers with rentals in other states who want to add a New York property. Every loan is a business-purpose loan on non-owner-occupied property.
Ready to run numbers? Use the form below or call (877) 298-1001.
Investors searching for short-term rental lenders often compare national names like CoreVest, Dominion Financial, Lima One and Visio Lending. Here is how LendingStreet stacks up on the scenarios that matter most for investors in New York. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| A single short-term rental | LendingStreet | We finance individual 1-8 unit short-term rentals. CoreVest states its short-term rental loans are for 5+ STR properties under one loan. |
| Short-term rental with credit in the 620s | LendingStreet | Our DSCR minimum is 620. Visio Lending's STR guide states a 680 minimum, and Lima One states 700 for its STR loans. |
| Short-term rental loan above $2.5M | LendingStreet | Our DSCR loans have no stated maximum. Lima One states STR loans up to $2.5M. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
New York City enforces Local Law 18, in effect since 2023. Stays under 30 days need a city registration, the host must live in the unit and be present during the stay, and no more than two guests are allowed. State law also bars renting most apartments in multiple dwellings for under 30 days. In practice, an investor cannot buy a whole house or apartment in the five boroughs to run as a nightly rental.
If you own NYC rental property, a standard DSCR loan on a 12-month lease is the better fit. For nightly income, look upstate or to the East End of Long Island, where town rules allow it.
The Catskills, across Greene, Ulster, Sullivan and Delaware counties, draw weekend visitors from the city year-round. The Hudson Valley adds historic homes near Hudson, Kingston, Rhinebeck and Beacon. The Adirondacks, around Lake George, Lake Placid and Old Forge, are a summer and winter sports market. The Finger Lakes book for wineries and lakefront summers, and Saratoga Springs fills during the summer racing season.
Many towns in these regions have adopted their own permit systems, caps or minimum-stay rules, and some limit rentals in certain zoning districts. Always check the town or village code for the exact address.
| Region | Typical STR property | What to check |
|---|---|---|
| Catskills | Cabins, A-frames and farmhouses | Town STR permit, septic and well condition |
| Hudson Valley | Historic village homes | Village and town permit rules |
| Adirondacks | Lake and ski-area homes | Local caps and permit limits |
| Finger Lakes | Lakefront cottages | Town rules and seasonal demand |
| Saratoga Springs | Homes near the track and downtown | City rules and how short the peak season is |
| Long Island East End | Summer houses | Town rental permits and minimum stays |
A state law that took effect September 22, 2025 requires counties to set up short-term rental registries, with two-year registrations and the registration number shown on listings. Counties can opt out by local law, and cities or counties with a million or more residents are excluded. The state also applies sales tax to short-term rentals, and many counties add a hotel or occupancy tax.
Confirm with your county whether a registry is in place and what it costs, and register with the New York State Department of Taxation and Finance as needed.
Your realistic options are a local bank or credit union, a local hard money lender, a national online DSCR lender or a private individual lender. For a long-term vacation rental hold, they usually compare like this.
| What STR investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Income used to qualify | Projected STR revenue on some programs | Personal income and tax returns | Mostly property value |
| Tax returns or W-2s | Not required | Usually required | Usually not required |
| LLC as borrower | Standard | Varies by bank | Common |
| Term | 30-year terms available | Often shorter or balloon | Usually short-term only |
| Help on high-tax towns | Sub-1.0 DSCR programs exist | Depends on your personal income | Not designed for long holds |
| States served | All 50 states and DC | Usually local | Often regional |
This example is illustrative and not a quote. An investor buys a three-bedroom cabin in Greene County for $425,000 and projects $54,000 a year in short-term rental revenue, about $4,500 a month. As a 12-month rental it might bring about $2,300 a month.
At 80% LTV the loan is $340,000, and the investor puts $85,000 down plus closing costs. Estimated principal and interest on a 30-year term is about $2,377. Property taxes of $700 a month and insurance of $175 bring the total payment to about $3,252.
DSCR on projected STR revenue is about 1.38x. On a long-term lease it would be about 0.71x. The tax line is the largest cost after the loan itself, which is common in upstate New York.
| Item | Monthly amount |
|---|---|
| Loan amount | $340,000 |
| Estimated principal and interest | $2,377 |
| Property taxes | $700 |
| Insurance | $175 |
| Total payment | $3,252 |
| Projected STR revenue | $4,500 |
| DSCR on STR revenue | About 1.38x |
| DSCR on a 12-month lease | About 0.71x |
New York property taxes are high, and they combine county, town and school district levies. Pull the full current bill, not a listing estimate, and check whether any exemption the seller had will come off after you buy. Some counties and municipalities also charge transfer or mortgage recording taxes at closing, so budget those too.
Upstate houses can be old, with wells, septic systems, oil or propane heat and long driveways that need plowing. Winter heating and snow removal are real operating costs, and lakefront homes may face higher insurance. Build these into your projection so the property cash flows in February as well as August.
Ask every lender: what is the max LTV on a purchase and on a cash-out? What is the DSCR minimum? Can projected STR revenue count? What seasoning applies before a cash-out? Can an LLC borrow? How long to close? Are there large-balance limits?
Our answers: up to 80% LTV on a purchase and up to 75% on a cash-out; a 1.0x standard minimum DSCR, with sub-1.0 programs; projected STR revenue on some programs; seasoning that varies by program; LLC borrowers as standard; and loans from $150,000 with no stated maximum, where max LTV can be lower on larger balances and 5-8 units. Timelines depend on the appraisal and title, so a complete file helps. Get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet. Some programs qualify on projected short-term rental revenue, with no W-2s or tax returns, LLC borrowers and 30-year terms, and sub-1.0 DSCR programs can help in high-tax towns.
Yes. We lend across New York State, from the Catskills and Hudson Valley to the Adirondacks, Finger Lakes and Long Island, and in all 50 states and DC.
Not as a whole-home nightly rental. Local Law 18 requires the host to live in the unit and be present, with no more than two guests. For NYC property, a DSCR loan on a 12-month lease is the better fit.
Probably. A state law effective September 22, 2025 requires county registries unless a county opts out, and many towns have their own permits. Check with your county and town.
They can be. High taxes raise the monthly payment and lower the ratio. Budget on the full current bill, and ask about sub-1.0 DSCR programs if the numbers are close.
Yes. Cash-out goes up to 75% LTV, seasoning varies by program, and the property must still meet the minimum DSCR at the new payment.
No. We finance non-owner-occupied investment property under business-purpose loans only, so the home must be operated as a rental.
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